siliconindia | | December 20198HOW BLOCKCHAIN TECHNOLOGY IS REVAMPING THE LOGISTICS INDUSTRYBy Sandeep Sharma, Founder & CEO, Cogent Transware Solutionsogistics is the lifeblood of most of the busi-nesses in the present era. From food to phar-maceutical, and consumer electronics to heavy machinery, it is the logistics that bridge the gap between manufacturer, distributor, retailer, and consumer. And, in the age of e-Commerce where everything is fast and forward, the efficiency of the sector relies a lot more on supply chain and logistics. It is the logistics that helps businesses to deal with competitions and catalyses the economic growth of progressive nations. Now the industry is evolving quite speedily; it is standing at the cusp of a digital transformation, as many disruptive technologies are all set to make a trailblazing entry into the industry, particularly the blockchain. Since inception, blockchain has already revolutionized many industries; the benefits that blockchain offers for all those involved in the entire supply chain industry are countless. Let's discuss a few of them:1. Blockchain Means End-to-End Transparency: Transparency for the customers has always remained a challenge for the logistics industry. From the manufactur-ing site to the doorstep of the end customer, there are many middlemen involved in the complex process. Using the blockchain applications, the customers get more detailed information about the product and track its status as the entire network of chains is transparent and accessible to the customers. All the participants from manufacturer to customer in a given blockchain system have equal access to the exact details and information of the order; from dis-patch to delivery. Here, the trust factor comes into the play! The cus-tomer can simply look into the sys-tem and get all the essential informa-tion regarding the product, manu-facturer, supplier, service centre, and others, and provide instant feedback to the service provider for further improvements. Apart from cus-tomers, the auditors can also leverage blockchain technolo-gy to do a simple calculation of time, money, and resources invested for a particular order because all the information is stored in the immutable blocks. 2. Secured Data Means Secured Delivery: The own-ership of digital assets such as data is undoubtedly inte-gral to small merchants and businesses. But digital com-modities are always vulnerable to being hacked--exactly the problem which Blockchain is fit to solve. The small business or merchants can simply manage, store, and share their ownership of digital assets such as copyrights, data, and customs documents, on a simple-to-use platform built using blockchain. All these digital assets are completely secured on blockchain as these cannot be altered by anyone across the With his experience in solution designing, strategic tie-ups, procurement and warehouse architecture, Sandeep is taking Cogent to new height while making it the preferred business partner for many industries.in my opinionLSandeep Sharma
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